Accounting and Taxation
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Home > Indirect Tax-I

Indirect Tax-I [1]

Paper Code: 
BCS 413
Credits: 
6
Contact Hours: 
90.00
Max. Marks: 
100.00
Objective: 

To acquire knowledge on practical application of indirect taxes.

 

CO 1:Ability to analyze and interpret the provisions of the goods and services tax law and recommend solutions to practical problems.

CO 2:Correlating the concept of supply, Input Tax Credit, Payment ,refund, Invoice, notes and Electronic way bill

CO 3:Basic Overview on IGST, UTGST and GST Compensation to States Act

CO 4: Analyzing of the customs laws and acquire the ability to analyze and interpret the provisions of such laws.

CO 5:Basic overview of input tax credit .

 

18.00
Unit I: 
UNIT I

An Overview on Goods and Services Tax ‘GST :Introduction; Constitutional Aspects & Administration; GST models; Levy and collection of CGST and IGST; Composition scheme & Reverse Charge, Exemptions.

Supply :Meaning & scope, types of supply (composite/mixed inter/ intra);

 

 

18.00
Unit II: 
UNIT II

Supply: Time, Place and Value of Taxable Supply; Import and Export of Goods or Services under GST, Classification of Goods and Services; Job work provisions, agency contracts, e-commerce & TCS. Input Tax Credit & Computation of GST Liability: Input tax credit; Computation of GST liability

18.00
Unit III: 
UNIT III

Procedural Compliance under GST: Registration; Tax Invoice, Debit & Credit Note, Account and Record, Electronic way Bill, Payment of Tax, TDS, Returns & Refund, Valuation, Audit & Scrutiny; Assessment.

Assessment, Audit, Scrutiny, Demand and Recovery   

 

18.00
Unit IV: 
UNIT IV

Advance Ruling, Appeals and Revision

Inspection, search, seizure, offences &penalties.

 

GST practitioners, authorized representative, professional opportunities

 

Industry/ Sector specific analysis  

 

18.00
Unit V: 
UNIT V

Integrated Goods and Services Tax (IGST) :

Introduction, Need for IGST ,Nature of Supply , Place of Supply , Refund of Integrated Tax to International Tourist, Zero Rated Supply.

Union Territory Goods and Services Tax (UTGST) :

Introduction, Fundamental difference between States and Union Territory One Nation One Tax Article, Illustrations on levy of tax.

GST Compensation to States:

Introduction ,Levy and Collection of Cess , Returns, Payments and Refunds , Input Tax Credit of Cess Paid , Compensation Cess on Goods Exported, Establishment of GST Compensation Fund, Provisions regarding Compensation Payable to States.

 

References: 

• Study Material Published by ICSI
• Scanner-Arun Kumar(ShuchitaPrakashans(P) Ltd)

Academic Year: 
2021-2022 [2]

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Source URL: https://accountingtaxation.iisuniv.ac.in/courses/subjects/indirect-tax-i-0

Links:
[1] https://accountingtaxation.iisuniv.ac.in/courses/subjects/indirect-tax-i-0
[2] https://accountingtaxation.iisuniv.ac.in/academic-year/2021-2022